Technical Analysis - Financial Trading

Technical Analysis for the Financial Markets

For the latest technical analysis see:

	Stock Market Technical Analysis
	Forex Technical Analysis
	Commodities Technical Analysis

The technical analysis below looks at both short-term and long-term trading. The analysts review the support and resistance levels and then give their view on where the market is heading.

Stock Market Technical Analysis - 16 May 2013

Technical analysis for the popular stock market indices and equities markets.

	UK Shares
	US Shares
	German Shares

FTSE 100 Technical Analysis

16-May-13

[7:53am] FTSE 100 Technical Analysis (30 mins chart)

FTSE 100 pivot point: 6600
Our preference: LONG positions above 6600 with 6710 & 6755 as next targets.
Alternative scenario: The downside penetration of 6600 will call for 6555 & 6494.

Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Update by

CleanFinancial FTSE 100 Guide » Prices » Charts » Market View

	Dow Jones Technical Analysis
16-May-13	[4:13am] The Dow Jones futures market closed lower on Wednesday and the low-range close set the stage for a steady-to-lower opening when Thursday's session begins trading. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are likely near-term. If it extends the aforementioned decline, monthly support crossing is the next downside target. Closes above the 20 day moving average crossing are needed to confirm that a low has been posted. Update by
16-May-13	[7:53am] Dow Jones Technical Analysis (30 mins chart) Dow Jones pivot point: 15140 Our preference: LONG positions above 15140 with 15300 & 15330 in sight. Alternative scenario: The downside penetration of 15140 will call for 15075 & 15000. Comment: The RSI is mixed to bullish. Update by CleanFinancial Dow Jones Guide » Prices » Charts » Market View

	S&P 500 Technical Analysis
16-May-13	[4:13am] The S&P 500 futures market closed higher on Wednesday. The high-range close sets the stage for a steady-to-higher opening when Thursday's session begins trading. Stochastics and the RSI are bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted. If it renews the rally off November's low, weekly resistance crossing is the next upside target. Update by
16-May-13	[7:53am] The S&P 500 (1658.78) reached a record high and holds above its 20 DMA (1620.5 - upward slope) and 50 DMA (1577.3 - upward slope). The RSI14 remains overbought (73.3). Update by CleanFinancial S&P 500 Guide » Prices » Charts » Market View

NASDAQ 100 Technical Analysis

16-May-13

[4:13am] The Nasdaq futures market closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are turning neutral-to-bearish signalling that a short-term top might be in or is near. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted. If the Dow extends the rally off November's low into uncharted territory, upside targets will be hard to project.

Update by

CleanFinancial NASDAQ 100 Guide » Prices » Charts » Market View

UK Shares Technical Analysis

16-May-13

[7:53am] UK Shares - Crossing Over their 50 Day Moving Average:

BTG Plc (+2.14% to 354p)
Direct Line Insurance Group (+0.84% to 205.1p)
Hikma Pharmaceuticals (+1.95% to 991p)
Victrex Plc (+0.68% to 1631p)

UK Shares - Crossing Under their 50 Day Moving Average:

Afren (-2.4% to 134.2p)
Inmarsat (-1.75% to 670p)
Premier Oil Plc (-2.27% to 379.5p).

Update by

CleanFinancial UK Shares Guide » Prices » Charts » Market View

	US Shares Technical Analysis
16-May-13	[7:53am] American Shares - Crossing Under their 50 Day Moving Average: Apple (AAPL -3.38% to $428.85). Update by CleanFinancial US Shares Guide » Prices » Charts » Market View

	German Shares Technical Analysis
16-May-13	[7:53am] German Shares - Crossing Under their 50 Day Moving Average: Fresenius Medical Care (-1.65% to €53.04) Hannover Re (-0.5% to €61.45). Update by CleanFinancial German Shares Guide » Prices » Charts » Market View

For more views and opinions on the stock market see our Daily Stock Market Reports.

Forex Technical Analysis - 16 May 2013

The following analysis covers the most traded FX markets including EUR/USD, USD/JPY, GBP/USD and EUR/GBP.

	Euro/Dollar Analysis
	Sterling/Dollar Analysis
	Dollar/Yen Analysis
	Euro/Sterling Analysis
	Dollar/Swiss Franc Analysis

	EUR/USD Technical Analysis
16-May-13	[4:13am] EUR/USD closed lower on Wednesday and the mid-range close sets the stage for a steady opening when Thursday's session begins trading. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's rally, the 50% retracement level of the February-April's decline crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted. Update by
16-May-13	[6:24am] EUR/USD Technical Analysis: The downward pressure on the euro continues to push it towards the twin lows at $1.2750, which we last saw in March and April while below that we have broader support at $1.2680. Any pullbacks are likely to find resistance at this week’s high at $1.3020 and the 200 DMA at $1.3000. The $1.3200 level remains the key resistance level while we also have $1.3235 whish is the 50% retracement of the $1.3710/1.2755. Update by Michael Hewson, Senior Market Analyst, CleanFinancial EUR/USD Guide » Prices » Charts » Market View

	GBP/USD Technical Analysis
16-May-13	[4:13am] GBP/USD closed lower on Wednesday and the mid-range close sets the stage for a steady opening when Thursday's session begins trading. Stochastics and the RSI remain neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it extends the rally off March's low, the 50% retracement level of this year's decline crossing is the next upside target. Update by
16-May-13	[6:24am] GBP/USD Technical Analysis: Yesterday’s brief break below the $1.5200 level keeps the pressure on for a move towards the April lows at $1.5030. The bearish weekly candle keeps the pressure on the downside, with only a move back above the $1.5410 level being able to stabilise and retarget the $1.5600 level. Interim resistance can also be found at $1.5280. Update by Michael Hewson, Senior Market Analyst,
16-May-13	[7:53am] GBP/USD Technical Analysis (30 mins chart) GBP/USD pivot point: $1.5275. Our preference: SHORT positions below $1.5275 with targets @ $1.519 & $1.516. Alternative scenario: The upside penetration of $1.5275 will call for a rebound towards $1.531 & $1.533. Comment: The pair is rebounding but stands below its resistance, the RSI lacks upward momentum. Update by CleanFinancial GBP/USD Guide » Prices » Charts » Market View

	USD/JPY Technical Analysis
16-May-13	[4:13am] USD/JPY closed higher on Wednesday and the mid-range close sets the stage for a steady opening when Thursday's session begins trading. Stochastics and the RSI have turned bullish signalling that sideways-to-higher prices are possible near-term. Closes below the 10 day moving average crossing are needed to confirm that a high has been posted. Update by
16-May-13	[6:24am] USD/JPY Technical Analysis: The US dollar continues to edge higher towards the ¥105.50 area, with another new multi-year high overnight. This 61.8% retracement of the ¥124.15/75.30 down move is the next obstacle towards a move towards ¥110.00. Given we have now broken the ¥100 level, any pullbacks are likely to find support at the April highs. Only back below ¥99.80 retargets ¥98.50. Update by Michael Hewson, Senior Market Analyst, CleanFinancial USD/JPY Guide » Prices » Charts » Market View

EUR/GBP Technical Analysis

16-May-13

[6:24am] EUR/GBP Technical Analysis:

The failure to break above the £0.8520 trend line resistance from the March highs at £0.8795 and the 200 week MA has seen the euro slip back.

This remains the main obstacle to a move higher.

Only a break below £0.8400 has the potential to open up a move towards £0.8315 trend line support from the £0.7755 low.

Update by Michael Hewson, Senior Market Analyst,

CleanFinancial EUR/GBP Guide » Prices » Charts » Market View

USD/CHF Technical Analysis

16-May-13

[4:13am] USD/CHF closed sharply higher on Wednesday and the low-range close sets the stage for a steady-to-lower opening when Thursday's session begins trading. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. If it extends last week's decline, the 50% retracement level of the February-March rally crossing is the next downside target.

Update by

CleanFinancial USD/CHF Guide » Prices » Charts » Market View

For more views and opinions on the currency markets see our Daily FX Reports.

Commodities Technical Analysis - 16 May 2013

	Gold Analysis
	Silver Analysis
	Copper Analysis

	Crude Oil Analysis
	Natural Gas Analysis
	Coffee Analysis

The commodities analysis below reviews both the short- and long-term price movements.

As above, the analysts interpret the support and resistance levels and give their own view on the possible market direction.

	Crude Oil Technical Analysis
16-May-13	[4:13am] US Crude oil closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening when Thursday's session begins. Stochastics and the RSI are turning bearish signalling that sideways-to-lower prices are possible near-term. If it extends this month's decline, November's low crossing is the next downside target. Closes above the 20 day moving average crossing are needed to confirm that a short-term low has been posted. Update by
16-May-13	[7:53am] After the close of Wall Street, WTI Crude Future (JUN 13) was about flat to $94.33. The contract was above its 20DMA (@ $91.65) and above its 50DMA (@ $93.03). The US Department of Energy reported that, for the week ended 10 May, crude oil inventories fell 624k barrels compared to the previous week. Update by CleanFinancial Crude Oil Guide » Prices » Charts » Market View

	Gold Technical Analysis
16-May-13	[4:13am] Gold closed lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening when Thursday's session begins trading. Stochastics and the RSI have turned bearish signalling that additional weakness is possible near-term. If it extends the decline off last October's high, the 62% retracement level of the 2008-2011 rally crossing is the next downside target. Closes above the 20 day moving average crossing would confirm that a short-term low has been posted. Update by
16-May-13	[7:53am] Gold Technical Analysis (30 mins chart) Gold pivot point: $1,418.00 Our preference: SHORT positions below $1,418 with targets @ $1,385 & $1,365. Alternative scenario: The upside penetration of $1,418 will call for a rebound towards $1,431 & $1,449. Comment: The RSI is mixed and calls for caution. Update by
16-May-13	[7:53am] After the Wall Street close, Gold was down $32.2 to $1393.2. The precious metal was below its 20DMA (@ $1445) and below its 50DMA (@ $1516). Update by CleanFinancial Gold Guide » Prices » Charts » Market View

Silver Technical Analysis

16-May-13

[4:13am] Silver closed higher on Wednesday and the high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI are turning neutral-to-bearish signalling that a short-term top might be in or is near. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted. If the Dow extends the rally off November's low into uncharted territory, upside targets will be hard to project.

Update by

CleanFinancial Silver Guide » Prices » Charts

	Copper Technical Analysis
16-May-13	[7:53am] After the Wall Street close, Copper Future (JUL 13) on Comex was down 2c to 326.8c/lb. The contract was below its 20DMA (@ 326.86c) and below its 50DMA (@ 341.16c). The LME reported its copper inventories increased 8825 tons to 627525 tons. Update by CleanFinancial Copper Guide » Prices » Charts

Natural Gas Technical Analysis

16-May-13

[4:13am] Natural gas closed higher on Wednesday. The high-range close sets the stage for a steady-to-higher opening on Thursday. Stochastics and the RSI remain neutral-to-bullish signalling that additional gains are possible near-term. If it extends the rally off January's low, weekly resistance crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.

Update by

CleanFinancial Natural Gas Guide » Prices » Charts

Coffee Technical Analysis

16-May-13

[4:13am] The coffee futures market closed lower on Wednesday and the low-range close sets the stage for a steady-to-lower opening on Thursday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20 day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off January's high, weekly support crossing is the next downside target.

Update by

CleanFinancial Coffee Trading Guide » Prices » Charts

For more commodity market views and opinions see our Daily Commodity Market Reports.

This content is for information purposes only and is not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.

Unless stated otherwise, the above time is based on when we receive the data (London time). All reasonable efforts have been made to present accurate information. The above is not meant to form an exhaustive guide. Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary

'Technical Analysis for the Financial Markets' edited by Gordon Childs, updated 16-May-13

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Commodities Analysis Index - an Index of Daily Commodities Analysis articles covering Trends, Supports and Resistance Levels for some of the major commodities markets including Crude Oil, Natural Gas, Gold, Silver and Coffee.

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Risk Warning: CFD trading and spread trading carry a high level of risk to your capital and you may lose more than your initial investment. CFD trading and spread trading may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.

The contents on CleanFinancial.com are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.

Neither CleanFinancial.com nor any contributing company/author accept any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.

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